The U. S. is holding less oil than usual right now. The Energy Information Administration (EIA) said that oil stockpiles dropped by 2. 3 million barrels last week. That's a lot less than what's typical for this time of year. This drop in supply comes as oil prices are going up. Brent crude, a key g
Oil traders are in a tough spot. They're dealing with big problems in Venezuela, Iran, and the Black Sea. These issues have pushed oil prices up in the last three months. But there's still a lot of oil out there. This makes things confusing for investors. First, there was a big shake-up in Venezuel
Venezuela's oil industry is facing fresh challenges. Shipments are slowing down. Most tankers are just moving oil between local ports. This follows recent U. S. actions against two more ships. State-run oil company PDVSA is also dealing with a cyberattack. The U. S. Coast Guard seized a supertanker
Oil prices have taken a hit, dropping from around $70 to just over $56 per barrel. This drop is tough on big oil companies like ExxonMobil, who make a lot of their money from drilling and producing oil. ExxonMobil has some of the best oil fields in the world, like the Permian Basin in the U. S. and
Oil prices have been on a rollercoaster lately. They've just had their biggest two-day drop in almost a month. Why? Well, it's a mix of things. First, there are these peace talks about Ukraine. If a deal happens, it could mean fewer sanctions on Russia. That would let more Russian oil flow into the
The recent meeting between Trump and Xi in Busan, South Korea, has left energy markets in a bit of a spin. After a chat lasting one hour and forty minutes, Trump announced a one-year trade agreement, set to be renewed automatically. But don't expect any fancy press releases just yet - the details ar
Russia's relentless attacks on Ukraine have pushed Europe and the U. S. to work together on new sanctions. This is a big deal because it's the first time since Trump's return that both sides are on the same page. The EU sent a team led by David O'Sullivan to Washington to discuss these measures. Th
The Middle East is a hotspot for oil production, supplying about a third of the world's oil. Recently, Iran launched missiles at a U. S. military base in Qatar, raising concerns about a wider conflict. Surprisingly, oil prices dropped instead of rising. This might seem odd, but it shows that the glo
Markets had a strange day after the US attacked Iran. People thought stocks would drop and oil prices would shoot up. But that didn't happen for long. At first, overnight trading showed the usual reaction to bad news. Stocks fell, and oil prices went up. But then things changed. By morning, stocks
In the midst of rising tensions in the Middle East, President Donald Trump took to his social media platform to urge a broad audience to maintain low oil prices. His message, directed at an unspecified group, warned that allowing prices to rise would benefit adversaries. This call came after the U.
